Bakery and dairy products maker Britannia Industries today said its net profit rose by 22.61 per cent to Rs 53.03 crore for the fourth quarter ended March 31,2012.
The company had posted a net profit of Rs 43.25 crore in the same period of previous fiscal,Britannia Industries said in a filing to the BSE.
The net sales of the company rose to Rs 1,309.57 crore during the quarter against Rs 1,121.67 crore in the same period of previous fiscal.
For the year ended March 31,2012,the company posted a net profit of Rs 186.74 crore compared to Rs 145.29 crore during 2010-11.
Commenting on the results,Britannia Industries Managing Director Vinita Bali said,”Our three priorities during the year were managing revenue,managing cost and generating new value through innovation in products,processes and technology.”
“This focus enabled us to deliver a topline growth of 19 per cent and profit growth of 48.5 per cent on a consolidated basis. Each business in India and overseas showed significant improvement in performance,” Bali added.
The company’s net sales for 2011-12 fiscal rose to Rs 4,947.04 crore against Rs 4,198.32 crore in 2010-11.
The company’s board,which met today,recommended a dividend of 425 per cent for the financial year ended March 31,2012.
Shares of Britannia Industries today closed at Rs 537.90 on the BSE,up 1.77 per cent from its previous close.
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